PepsiCo's India-born chief Indra Nooyi and Motorola Mobility's Sanjay Jha are among the highest paid CEOs in the US, according to new estimates that say salaries and bonuses for chief executives running 350 major companies surged 11 per cent to USD 9.3 million in 2010.
Executives at the biggest US companies saw their pay jump sharply in 2010, as boards rewarded them for strong profit and share-price growth with bigger bonuses and stock grants, the Wall Street Journal said
in its latest CEO Compensation survey.
in its latest CEO Compensation survey.
According to the companies' proxy statements studied for the Journal by management consultancy Hay Group, the median value of salaries, bonuses and long-term incentive awards for CEOs of 350 major companies grew 11 per cent in 2010. This increase followed a year in which "pay for the top boss was flat at these companies".
In the 350-strong list, Nooyi is among the five CEOs of Indian-origin at the helm of major US corporations. Giving her company on the highest paid CEO list is OfficeMax CEO Ravi Saligram, Motorola's Jha and Quest Diagnostics' Surya Mohapatra. Citigroup's Vikram Pandit comes in last in the list since he earned no compensation in 2010, following his decision to take a $1 salary per year and no other compensation until Citi returns to "sustained profitability".
Apple boss Steve Jobs also came in at the rear of the list as he too did not take any compensation or salary for 2010.
Nooyi's total direct compensation in 2010 was USD 13.78 million, which included her salary of USD 1.3 million dollars, annual incentives of USD 3 million, stock option grants of USD 3.23 million and performance awards totalling USD 6.25 million. Nooyi's compensation however declined 0.2 per cent from 2009.
Saligram, who heads the office supplies giant, earned a total compensation of USD 12.03 million dollars in 2010 that included a salary of USD 1.21 lakh , stock option grants of USD 9.21 million and restricted stock grants of USD 2.26 million.
Jha's total direct compensation was USD 11.92 million. His 2010 salary was USD 9 lakh dollars and he earned annual incentives of USD 1 million and about USD 10 million in stock option and restricted stock grants.
Mohapatra, whose company is the leading provider of diagnostic testing and services, earned USD 10.39 million in total compensation that included a salary of USD 1.23 million and annual incentives of USD 1.2 million. His stock option, restricted stock grants and performance awards totalled about USD 8 million. Mohapatra's total compensation declined 3.7 per cent from 2009.
Aiming to cash in on the rapid growth of country's financial services sector, Reliance Industries will seek partnerships with leading global players in this pursuit, the company's billionaire chief Mukesh Ambani has said.
The group has already been approached by several global financial services companies for possible partnerships, Ambani said in his annual communication to shareholders.
Listing out growth opportunities for the group in businesses like energy, telecom and retail, Ambani said "the financial services sector is equally poised for rapid and significant growth."
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| Reliance Industries Ltd Logo |
"Several international companies have approached Reliance to be their partner of choice in establishing niche businesses in India. We will participate in this sector through partnerships with leading global companies," he added.
Reliance Industries is seeking to cater to both corporates and consumers through a wide array of next-generation financial services products and a final blueprint about its plans for this segment is currently being worked out.
Ambani has made his intention public for further tie-ups in financial services business within weeks of reaching an agreement to set up a joint venture with DE Shaw group.
The JV will seek to "build a leading financial services business in India," the company said in its latest annual report.
RIL would capitalise on the core strength of its businesses and expertise of global investment major DE Shaw in its proposed foray into the financial services sector.
"This JV will incorporate the DE Shaw group's investment and technology expertise with Reliance's operational knowledge and extensive presence across India to offer a comprehensive array of financial services to the Indian marketplace.See below links
"This JV will draw upon the core competencies of both firms to develop a platform that can serve the growing needs of Indian companies and individuals," the company added.
Last month, Ambani had said the company was fully geared to participate in India's growth and continued global recovery in the coming years.
"Our committed investments in core business and new initiatives are expected to result in sustained earnings growth," he added.
RIL is working on some significant initiatives for the financial services business, especially those where it can utilise its expertise and presence in sectors like energy and retail, as also its proposed telecom and power ventures.
Besides DE Shaw, RIL would also look at some other partners for various specific financial service businesses, as it has done in its retail business and to some extent in its energy operations, sources said.
The businesses that RIL could undertake include energy trading, private equity, mutual fund, distribution of financial products, infrastructure funding and various other consumer and corporate-focussed financial service offerings.To read more choose from below links
Prime Minister Manmohan Singh today assured a delegation of Rashtriya Lok Dal leaders that Government will move the crucial bill to amend the Land Acquisition Act in the coming session of Parliament, its leader Ajit Singh said.
After a half-an-hour long meeting with the Prime Minister, the RLD chief said that he apprised the former about the violence over land acquisition in Noida and reminded him about his commitment to pass the bill
"I met the Prime Minister regarding the Land Acquisition bill and reminded him that he had made a promise in October last year itself regarding the passage of the bill. Rahul Gandhi had also met him and urged for passing the bill.
"The Prime Minister had then said that he would ensure that the bill be passed as soon as possible. But two Parliament sessions passed since then. I reminded him about his commitment. The Prime Minister has told me that the bill will definitely be brought before Parliament in the next session," the RLD leader told reporters here.
He also said that the Prime Minister assured him that he would ask Rural Development Minister Vilasrao Deshmukh to hold consultations on the amendment bill after the RLD delegation pointed out many lacunae in the existing amendment bill of the government.
The RLD chief said there are "many loopholes" in the government bill
including definition of "public purpose" that can be misused and hence consultations are required.
Asked whether he apprehends that the bill may not be passed in Parliament as UPA ally Trinamool Congress is opposed to it, Singh said in a lighter vein that "elections will be over in West Bengal today. So this problem should not remain now."
He also told the Prime Minister that party MP Jayant Chaudhary will be moving a private member bill on the same subject in the next session of Parliament.
Congress MP Jagdambika Pal, who met the Prime Minister separately over the same issue, said, "The Prime Minister expressed sorrow and concern at the incident (violence in Noida over land acquisition)."
Attacking Mayawati government on the issue, he said five incidents of firing at farmers have taken place in Uttar Pradesh in the last over four years of BSP's rule.
"I told the Prime Minister that farmers' precious land is being taken over for corporates at throwaway prices in Uttar Pradesh and that should be stopped," he said.
The RLD chief also said that even if the land amendment bill was passed, "this problem is not going to be solved if a government like the one headed by Mayawati comes to power in any state."
He alleged that while farmers' land is being bought at cheap rates, the state government is selling it at almost the double price to businessmen and "black money is also reaching Mayawati."
After a half-an-hour long meeting with the Prime Minister, the RLD chief said that he apprised the former about the violence over land acquisition in Noida and reminded him about his commitment to pass the bill
"I met the Prime Minister regarding the Land Acquisition bill and reminded him that he had made a promise in October last year itself regarding the passage of the bill. Rahul Gandhi had also met him and urged for passing the bill.
"The Prime Minister had then said that he would ensure that the bill be passed as soon as possible. But two Parliament sessions passed since then. I reminded him about his commitment. The Prime Minister has told me that the bill will definitely be brought before Parliament in the next session," the RLD leader told reporters here.
He also said that the Prime Minister assured him that he would ask Rural Development Minister Vilasrao Deshmukh to hold consultations on the amendment bill after the RLD delegation pointed out many lacunae in the existing amendment bill of the government.
The RLD chief said there are "many loopholes" in the government bill
including definition of "public purpose" that can be misused and hence consultations are required.
Asked whether he apprehends that the bill may not be passed in Parliament as UPA ally Trinamool Congress is opposed to it, Singh said in a lighter vein that "elections will be over in West Bengal today. So this problem should not remain now."
He also told the Prime Minister that party MP Jayant Chaudhary will be moving a private member bill on the same subject in the next session of Parliament.
Congress MP Jagdambika Pal, who met the Prime Minister separately over the same issue, said, "The Prime Minister expressed sorrow and concern at the incident (violence in Noida over land acquisition)."
Attacking Mayawati government on the issue, he said five incidents of firing at farmers have taken place in Uttar Pradesh in the last over four years of BSP's rule.
"I told the Prime Minister that farmers' precious land is being taken over for corporates at throwaway prices in Uttar Pradesh and that should be stopped," he said.
The RLD chief also said that even if the land amendment bill was passed, "this problem is not going to be solved if a government like the one headed by Mayawati comes to power in any state."
He alleged that while farmers' land is being bought at cheap rates, the state government is selling it at almost the double price to businessmen and "black money is also reaching Mayawati."
Re: Subject: [intradaycalls] Ultimate Analysis on NIFTY Future (10-5-2011)
Small Risk Opportunity in ADVANCED (Base of Hourly oscillators) : Selling levels 5611-5629 and Short Term Targets will 5536-5476, if trades 5630 above for 10minitues…then Exit from Short Position
(Please, Note that we are long with nifty future as mentioned above paragraph, yet we try to book profit 5584 above)
Subject: [intradaycalls] Ultimate Analysis on NIFTY Future (10-5-2011)
Disclosure: Yesterday Exact NIFTY fall to our BUY levels 5498 to 5511(Low 5501) and Nifty missed target 5594 with high of 5584 (Missed points 10)
Profit Points: 70 to 84
Now, just watch 5532-5537(Support)
(Breaking this level will be intraday weakness and Nifty can fall more 5500 and 5478 easily)
Today expected high volatile trading…!
For the more market trend…read positional message…!
(Today is important to know accurate move)
In case of closing Nifty 5532 below…NIFTY hold your Short Position for targets of 5468-5440
Bull is only 5630 above….!!!
Arotech's FAAC Incorporated Receives $63.4 Million Order for U.S. Army Virtual Clearance Training Suites -- With Options, Up to $94 Million. It has shown sharp up move of 54 %during yesterday's trading session. Volumes are quite stronger and there is no sign of profit booking traders might look for next trading session to trade the stock.
Arotech's Backlog Surpasses $100 Million for First Time Ever
ANN ARBOR, MI--(Marketwire - May 9, 2011) - FAAC Incorporated, part of Arotech Corporation's (NASDAQ:ARTX) Training and Simulation Division, has received a $63.4 million contract award for the design, development, production, and delivery of 28 Virtual Clearance Training Suites (VCTS). VCTS simulates the wide array of large and small technical devices, purpose-built mine-protected detection and clearing vehicles, and ever-evolving tactics and techniques used by the U.S. Army to combat improvised explosive devices.
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| Aroteh logo |
This award, from the U.S. Army Program Executive Office for Simulation, Training & Instrumentation (PEO STRI),
is a competitive small-business delivery order under the STRI Omnibus Contract known as STOC II. This base order for 28 systems is to be delivered incrementally over a 36-month period. Including all priced options this award is valued at up to $93.9 million.
is a competitive small-business delivery order under the STRI Omnibus Contract known as STOC II. This base order for 28 systems is to be delivered incrementally over a 36-month period. Including all priced options this award is valued at up to $93.9 million.
"The Virtual Route Clearance Training Suite provides a simulation-based solution to train Route Clearance Teams in coordinated operation for the set of Route Clearance equipment," said Kurt Flosky, FAAC Executive Vice President. "Our VCTS solution provides the Right Fidelity solution to satisfy the Army's urgent and long term need for training in an IED environment."
"This is a great win for FAAC and validates Arotech's commitment to the training and simulation market," noted Robert Ehrlich, Arotech's CEO. "We are proud that our training solutions are able to play a role in preparing our nation's Warfighters for their important mission," concluded Ehrlich.
Inclusive of this order, but not including the priced options, Arotech's backlog stands at a record $105 million.
Arotech also noted that due primarily to delays in shipments of orders in its Armor Division to the Israeli Army, revenues (which Arotech records as orders are shipped) in the first quarter 2011 will be down approximately 37% from the corresponding period last year. However, since these armor orders are anticipated to be shipped later this year, Arotech continues to expect its full year's revenues to be comparable to those of 2010, without taking account of any impact the new Simulation Division order may have on Arotech's results during 2011, which management is currently evaluating.
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Microsoft is close to a deal to buy Internet phone company Skype Technologies for $8.5 billion including debt, a source familiar with the situation said on Monday.
A deal is expected to be announced as early as Tuesday morning, the source said. The source declined to be named because the talks are not public.
Goldman Sachs and JPMorgan are advising Skype, the source said. Microsoft is not using advisers, the source said.
Earlier, the Wall Street Journal reported news of the potential deal.
Microsoft declined comment. Skype could not immediately be reached for comment.
Earlier last week, Facebook and Google Inc were in a separate talk with Skype to acquire or joint venture with company. There was no hint that Microsoft Inc will come up as a final winner as Microsoft Inc was nowhere in a picture.
about previous reports here
( Source: Reuters )
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| MannKind Corp |
Shares of the MannKind Corp( NASDAQ: MNKD ) lose more than 14 % in after hours trade after company has reported its quarterly earnings, below is the transcript:
For the first quarter of 2011, total operating expenses were $38.1 million compared with $40.6 million for the first quarter of 2010, and $32.1 million for the fourth quarter of 2010.
R&D expenses were $26.3 million for the first quarter of 2011 compared to $30.5 million for the first quarter of 2010, and $24.2 million for the fourth quarter of 2010. The decrease in R&D expense for the first quarter of 2011 compared to the same quarter in 2010 was primarily due to a decrease in raw material purchases, resulting from the February 2011 termination of an insulin supply agreement. As a consequence of terminating the agreement, the company did not take delivery of any insulin in the first quarter of 2011.
General and administrative expenses were $11.8 million for the first quarter of 2011 compared to $10.1 million for the first quarter of 2010 and $7.9 million for the fourth quarter of 2010. The increase in the current quarter compared to the same quarter in the prior year was primarily due to employee severance and other related termination benefits associated with the February 2011 reduction in force.
The net loss applicable to common stockholders for the first quarter of 2011 was $41.5 million or $0.34 per share based on a weighted average of 121.1 million shares outstanding. Compared with a net loss applicable to common stockholders of $44.7 million or $0.40 per share based on $113.1 million weighted average shares outstanding for the first quarter of 2010.
Our cash, cash equivalents and marketable securities at the end of the quarter totaled $47.5 million, which compares to $70.4 million at December 31, 2010. $31.5 million at March 31, 2010. Our cash on hand in our remaining credit facility from AL amount to $144.9 million, as of March 31, 2011.
"Average investors who try to do a lot of trading will only make their brokers rich." Attachment(s) 1 of 1 File(s)
"Average investors who try to do a lot of trading will only make their brokers rich."
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